Page 3358 - Business Finance
Working to make Air India profitable again: Goyal
The government is making efforts to turnaround Air India and make it profitable again to be able it fetch higher value from its strategic disinvestment, acting Finance Minister Piyush Goyal said on Wednesday.
VW to launch carsharing with electric vehicles in 2019
FRANKFURT (Reuters) - Volkswagen plans to start offering car sharing services using fully electric vehicles in German cities next year as part of efforts to serve consumers who don't want to buy their own vehicles.
Shriram Transport Finance says group firm will honour NCD repayment
(Reuters) - India's Shriram Transport Finance Co Ltd (STFC) said on Wednesday group firm SVL Ltd has the wherewithal to honour repayment on non-convertible debentures (NCDs) guaranteed by it.
EBRD approves 500 million euro TAP loan in boost for developers
LONDON/MILAN (Reuters) - A major European development bank has approved a loan for construction of the Trans-Adriatic Pipeline (TAP) on Wednesday, in a boost for the developers of the 4.5 billion euro gas project.
Brazil industry shrinks the most in a decade due to strike
BRASILIA (Reuters) - Industrial output in Brazil plummeted in May at the sharpest pace in a decade, highlighting the deep impact of a nationwide truckers' strike in the final weeks of that month.
China's HNA Chairman Wang dies in France after falling from a wall
BEIJING/MARSEILLE, France (Reuters) - Chinese conglomerate HNA Group Co-Chairman Wang Jian died during a business trip in France on July 3 in what local police said appeared to be an accidental fall from a wall while posing for a photograph.
EBRD set to approve TAP loan in boost for developers - sources
LONDON/MILAN (Reuters) - A major European development bank is likely to approve a loan for the Trans-Adriatic Pipeline (TAP) gas project on Wednesday, raising hopes among its developers that Italy's new government will not stand in its way, sources said.
3 lakh village level entrepreneurs to engage as banking correspondents
CSC SPV, a special purpose vehicle under the Ministry of Electronics & IT, has entered into agreement with HDFC Bank to enable its three lakh village level entrepreneurs (VLEs) managing the common services centers (CSC) operate as banking correspondents of HDFC Bank, an official statement said here on Wednesday.
Asian energy giants hedge U.S. LNG buying spree with European deals
LONDON (Reuters) - Asian utilities are increasingly striking up European partnerships and hunting for acquisitions to hedge their large multi-billion-dollar purchases of U.S. liquefied natural gas (LNG) supplies.
Mid-term strategy key for success of a business: Study
While long-term planning is visionary, India's next generation leaders believe it is necessary to put in place a clear mid-term strategy for the success of a business, says a PwC study. According to the study, the 'missing middle' which is the gap between the current and the long-term plan is an essential aspect of business planning, especially amid technical disruption and the ever-changing business landscape. "While most family businesses have envisaged a long-term strategy, 67 per cent of the next generation in India feel that it's important to have it clearly documented, perhaps to ensure that the organisation remain focussed and goal oriented," the study said. As part of the report, PwC polled 137 next generation entrepreneurs globally and 45 in India. As per the findings, as many as 83 per cent of the next generation leaders think it's important to continuously innovate products and services while 81 per cent feel there has to be a strategy for the digital age. The report covers
Prabhu expects 20 pc export growth in June
India's exports are growing at a healthy rate and may record about 20 per cent growth in June, Commerce and Industry Minister Suresh Prabhu said today. He said the ministry is working on a detailed strategy to push the shipments. "In May, our exports went up by almost 20 per cent and it looks like in June also, it (rate of growth) will be close to 20 per cent," he said here at an event of Federation of Indian Export Organisations (FIEO). However, these are challenging times for global trade as countries are taking protectionist measures, he noted. Countries are trying to put sanctions for their benefit but it would not give positive results as economic sanctions essentially mean "that you are cut-off from rest of the world", Prabhu said. "We are working on a combined strategy about what could be done so that exports increase at a rapid rate," he added. The minister was addressing exporters on preparing strategy to add 100 billion dollar to India's exports. The strategy is expected to
Chevron starts sale of several North Sea oil and gas fields
LONDON (Reuters) - Chevron has kicked off the sale of a number of its oil and gas fields in the ageing North Sea as part of a review of the U.S. giant's European operations.
Expectation of healthy rural demand lifts equity indices; auto stocks rise (Roundup)
Expectation of a healthy rural demand on the back of the government's enhanced farm sector support buoyed the key Indian equity indices on Wednesday.
Thomas Cook's domestic business seeing robust growth
Travel services firm Thomas Cook (India) Ltd today said its domestic business is growing at a robust pace of 35-40 per cent, and its share in the total revenue is expected to rise in the next few years. The outbound (international) business currently contribute 80 per cent and is growing at 20-25 per cent, while domestic travel generates the rest, but over the next two-three years, the revenue ratio is expected to change, Thomas Cook (India) VP Romil Pant said. "I think the share of domestic business is ideally expected to move up to 30 per cent from 20 per cent now in the next two to three years, looking at the growth rate," he said. Pant was here to promote special regional Bengali tours in the city during the Durga Puja festivities. In these tours, managers will use the local dialect, and more such tours in other languages are also planned, such as Assamese, Pant said. Deepening reach is another step to maintain growth momentum, he said, adding, Thomas cook presently ..
Volvo Cars to produce plug-in hybrid XC90 Excellence in India from next year
Swedish luxury car maker Volvo Cars will start producing plug-in hybrid model, XC90 Excellence, locally in India from next year as part of plans to sell one million electrified cars globally by 2025, according to a senior company official. The company, which today launched its entry level SUV XC40 in India at an introductory price of Rs 39.9 lakh, will also start local assembly of its SUV, XC60 at its Bengaluru plant from the third quarter of this year. "Our long term strategy is for electrified vehicles. Very shortly, in terms of the automotive industry, we are going towards all electrified cars. We need to be ready in India just as we need to be ready anywhere else in the world," Volvo Car India Managing Director Charles Frump told PTI in an interview. Volvo Car India currently sells the plug-in hybrid model XC90 Excellence priced at Rs 1.31 crore. Globally, Volvo Cars has announced target of selling one million electrified cars by 2025 with 50 per cent of its sales volume to come ..
Chairman of China's HNA Group dies in accident in France
The co-chairman of HNA Group, a conglomerate that operates China's fourth-largest airline and finance, logistics and other businesses around the world, died in an accident while on a business trip in France, the company said today. Wang Jian, a co-founder of the company, suffered "severe injuries" in a fall in Provence in southern France and died Tuesday at age 57, said an HNA Group statement. It gave no other details. Regional French media outlet France Bleu said Wang fell a dozen or so meters (yards) while taking photos on a high wall in Bonnieux, a town in a region famed for its panoramic views. Launched in 1993 on the southern island of Hainan, HNA expanded into finance, hotels, logistics and other businesses in a multibillion-dollar global acquisition spree. More recently, HNA has been selling some assets as Chinese regulators tighten lending controls and press companies to rein in debt. Wang graduated from the Civil Aviation University of China and received an MBA from the ...
British Supreme Court rejects Goldman Sachs appeal vs Novo Banco
LISBON (Reuters) - Britain's Supreme Court dismissed on Wednesday an appeal by Goldman Sachs for compensation from Portugal's Novo Banco over a $835 billion loan to Novo Banco's bankrupt predecessor, Banco Espirito Santo (BES), which was carved up by the state in 2014.
'Big 500' corporates account for 90% CSR spend: Survey
The 'big 500' companies in India contribute the lion's share of more than 90 per cent of the total Corporate Social Responsibility (CSR) spends in India, and just 20 top corporations account for over 45 per cent, a new survey revealed on Wednesday.
Gold, silver book gains on global cues
Gold prices rebounded by Rs 245 to Rs 30,510 per ten grams today, largely on a firm trend overseas along with increased buying by local jewellers. Silver, too, rallied Rs 240 per kg on increased offtake by industrial units. Standard gold (99.5 per cent purity) moved up by Rs 245 to end at Rs 30,510 per ten grams from Tuesday's level of Rs 30,265. Pure gold (99.9 per cent purity) also rose by a similar margin to close at Rs 30,660 per ten grams against Rs 30,415 earlier. Silver (.999 fineness) shot up by Rs 240 to end at Rs 39,280 per kg as against Rs 39,040 previously. Globally, gold hit a one-week high, rebounding from this week's seven-month low, helped by a softer dollar and smouldering trade tensions, though gains were limited by the prospect that rising interest rates will support the greenback. Spot gold was trading up 0.2 per cent at USD 1,255.21 an ounce in early trade. Silver was trading 0.1 per cent lower at USD 15.98 an ounce.
Sainsbury's gets £3.5 billion loan package for Asda buy
LONDON (LPC) - UK supermarket Sainsbury's has agreed £3.5bn of syndicated loans to back its proposed £7.3bn acquisition of Walmart's Asda, the company said on Wednesday.